# CBSE Class-12 Economics: Questions 269 - 275 of 523

Get 1 year subscription: Access detailed explanations (illustrated with images and videos) to 523 questions. Access all new questions we will add tracking exam-pattern and syllabus changes. View Sample Explanation or View Features.

Rs. 900.00 or

## Question number: 269

» National Income and Related Aggregates » Methods of Calculating National Income » Expenditure Method

Essay Question▾

### Describe in Detail

A consumer buys 50 units of a good at a price of Rs. 10 per unit. When price falls to Rs. 5 per unit he buys 100 units. Find out price elasticity of demand by the ‘Total Expenditure Method’.

### Explanation

 Price (P) Quantity (Q) T. E. =P * Q 50 10 500 5 100 500

Since the total expenditure does not change with the change in price, thus price elasticity of… (4 more words) …

## Question number: 270

Essay Question▾

### Describe in Detail

Calculate Personal Income from the following data:

 - ( Rs. crores) Undistributed profits of corporations 20 Net domestic product accruing to the private sector 500 Corporation tax 55 Net factor income from abroad (-) 10 Net current transfers from government 15 National debt interest 40 Net current transfers from the rest of the world 15

### Explanation

Personal Income = Net domestic product accruing to the private sector + Net factor income from abroad + Net current transfers from government + Net current transfers from the rest of the world + National debt interest - Corporation tax - Undistributed profits of corporations

Calculation of Personal Income

calculation… (34 more words) …

## Question number: 271

Essay Question▾

### Describe in Detail

Distinguish between Marginal utility and Total utility

### Explanation

 Marginal utility Total utility Marginal utility is the satisfaction that we get from consuming another quantity of a good or service. Total utility is the total satisfaction that we get from consuming a given total… (102 more words) …

## Question number: 272

» Consumer's Equilibrium and Demand » Demand » Determinants of Demand

Short Answer Question▾

### Write in Short

Give meaning of Excess demand.

## Question number: 273

Essay Question▾

### Describe in Detail

Explain the term ‘compensation of employees’.

### Explanation

“Compensation of employees” is a measure of the compensation paid by company owner. It excludes compensation paid to the rest of the world, and it includes compensation received from the rest of the world.

“Compensation of employees, received” is similar to “compensation of employees” in that it measures the compensation… (34 more words) …

## Question number: 274

Short Answer Question▾

### Write in Short

Give meanings of marginal revenue

## Question number: 275

Essay Question▾

### Describe in Detail

On the basis of the information given below, determine the level of output at which the producer will be in equilibrium. Use the marginal cost – marginal revenue approach. Give reasons for your answer

 Output (units) Average Revenue (Rs) Total Cost (Rs) 1 7 8 2 7 15 3 7 21 4 7 26 5 7 33 6 7 41

### Explanation

 Output (units) Average Revenue (Rs) Total Cost (Rs) Marginal cost Marginal revenue 1 7 8 - 7 2 7 15 7 7 3 7 21 6 7 4 7 26 5 7 5 7 33 7 7 6 7… (57 more words) …

f Page